Many people who want to buy a home in Turkey with the goal of settling there permanently or gaining Turkish citizenship are unable to tell a real estate development firm from a real estate brokerage company. The distinction between the two real estate words and each term’s function must thus be made clear in this article.
The real estate development company
It is a business whose goal is to develop a specific location or site, re-establish an existing corporation, and make upgrades and repairs to it—either completely or in part—in order to capitalize on it and raise its investment value.
As opposed to what some people think, a real estate development company is more of a “development manager” who comes up with the best idea for the project through thorough feasibility studies, funding options, choosing the best consultant and contractor, and creating a project marketing plan and sales strategy.
It should be emphasized that the real estate development firm spends time interacting with banking institutions, construction offices, and contractors in addition to looking for appropriate locations for development.
One of the duties of a real estate development firm is to acquire undeveloped land, create projects or residential complexes on it, develop real estate there, and translate plans and concepts on paper into actual real estate and cities.
The real estate development corporation, which is credited with “transforming the desert into a global metropolis,” is very significant to investors and businesspeople, the creation of profitable real estate units that meet community demands and benefit the developer is another responsibility for the real estate development firm, effective risk management before, during, and after the development of the project are other essential and major duties of a real estate development companies.
Real estate development success depends on a number of essential rules being followed, including ensuring sure the project is well-designed and simple to administer after selling. These recommendations include having a full grasp of all components of the real estate development project’s feasibility research.
One of the fundamental principles that real estate development firms rely on for their ongoing success is studying the project idea and putting ideas related to its implementation together up until the stage of crystallizing the idea, choosing the location, conducting financial studies, and creating preliminary designs through specialized offices.
Prior to reaching the final design stage and beginning to negotiate construction contracts and choose the qualified contractor to contract with, real estate development companies are eager to prepare market analyses, financial feasibility analyses, and designs that meet the requirements for obtaining the required licenses for the project.
The stage of signing contracts for the project follows, and it includes everything from constructing, financing, supplying, marketing, etc., to the last stage, which includes the project’s opening, a media campaign, and hiring project management and marketing firms.
OmranTRK Real Estate Development Company
“OmranTRK” company, with its headquarters in “Yalova,” is regarded as one of the real estate development firms that are concerned with the fundamental principles of real estate development. It works to establish real estate projects after selecting an advantageous location and constructing distinctive housing units, in addition to marketing the project up until the point of selling and issuing the title deed “Tabu” of the asset.
“OmranTRK” aims to direct investors of different nationalities to locations where the real estate market in Turkey is experiencing development and success, particularly in the Turkish city of “Yalova.” In addition to marketing real estate projects thanks to its extensive experience in this area, it is eager to locate suitable land prospects for projects that investors are contemplating developing on.
Real estate brokerage company
The real estate brokerage company, which is a business licensed to operate to assist the purchasing and selling process between the players in the process, whether they are persons, real estate owners, or real estate development businesses, must be distinguished from the real estate development company before discussing it. This is done in return for a certain commission. It was decided that the real estate broker would collect the property from the person who appointed them.
One of the duties of a real estate broker is to maintain the documentation, negotiate the sale agreement process, and complete the necessary transactions.
The real estate brokerage industry primarily targets clients who are searching for real estate, since the broker serves as a liaison between the seller and the buyer, as neither can complete a sale or lease transaction without the other.
The purpose of real estate counseling is to make the contractual process between the parties easier. It also attempts to rejuvenate the real estate market and, in the case of the involvement of real estate evaluation professionals, contribute to price stability.
As a result, depending on the core principle from which the two ideas derive, many individuals may confuse the concepts of real estate brokerage and real estate development. This is because the common objective of the two professions is the marketing or sale of real estate products.
Real estate brokerage, on the other hand, focuses on working with two main parties, and it does not exist in the absence of either of these parties (the real estate owner or the real estate seeker), whereas a real estate development company establishes, markets, and sells the real estate project. The difference between the two becomes clearer as we delve deeper into the concepts and objectives of the two terms and according to the principles on which each of them is based.
